StockNews.com Downgrades Xunlei (NASDAQ:XNET) to Buy

StockNews.com lowered shares of Xunlei (NASDAQ:XNET) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

Xunlei Trading Up 1.3 %

Shares of Xunlei stock opened at $1.98 on Thursday. The firm’s 50 day simple moving average is $1.97 and its two-hundred day simple moving average is $1.79. The firm has a market capitalization of $125.20 million, a price-to-earnings ratio of 8.59 and a beta of 1.07. Xunlei has a 12-month low of $1.45 and a 12-month high of $2.41. The company has a current ratio of 2.92, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Xunlei

A number of institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Xunlei by 3.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 300,092 shares of the software maker’s stock worth $555,000 after acquiring an additional 10,276 shares during the period. Acadian Asset Management LLC increased its stake in Xunlei by 20.9% during the 2nd quarter. Acadian Asset Management LLC now owns 176,254 shares of the software maker’s stock worth $294,000 after buying an additional 30,515 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Xunlei in the 3rd quarter valued at $109,000. Finally, Rhumbline Advisers lifted its stake in shares of Xunlei by 42.8% in the second quarter. Rhumbline Advisers now owns 24,097 shares of the software maker’s stock worth $40,000 after buying an additional 7,220 shares in the last quarter. Institutional investors and hedge funds own 5.07% of the company’s stock.

About Xunlei

Xunlei Limited, together with its subsidiaries, operates an internet platform for digital media content in the People's Republic of China. Its platform is based on cloud technology that enables users to access, store, manage, and consume digital media content. The company offers Xunlei Accelerator, which enables users to accelerate digital transmission over the internet; mobile acceleration plug-in, which provides mobile device users with benefits of download speed acceleration and download success rate improvements; and subscription services that offer users premium services through Green Channel and Fast Bird products.